Cushman & Wakefield Advises Sale of 40-Acre Site in Petaluma for $20.1 Million for New Planned Development

PETALUMA, Calif., June 19, 2019 – Cushman & Wakefield announced today that the firm has advised Silicon Valley-based Bay West Development in the sale of 40 acres of undeveloped land in Petaluma, California for $20.1 million. Located at 500 Hopper Street, Bay West had originally purchased the vacant industrial-zoned property in 2016. The buyer was Indianapolis-based Scannell Properties, whose official plans for their new development project have yet to be announced. Trevor Buck, Steven Leonard and Brian Foster with Cushman & Wakefield’s North Bay office represented the seller in the transaction. “We marketed this property as an industrial build-to-suit opportunity to a wide audience of buyers and we received strong interest from a number of different investors and developers, even outside the scope of industrial,” said Trevor Buck, Executive Director. “Scannell proved to be an ideal buyer for this sought-after property given their experience and knowledge of the local area, [...]